Insurance FAQ
Flat Roof
What percentage of my roof needs to be flat to require flat roof insurance?
Policies may differ, but typically, if more than 1% of your roof is flat, it’s categorized as a flat roof property by insurers. It’s important to disclose this to ensure you have the correct coverage. If more than 25% of your roof is flat it will require a more specialist policy.
Are there specific maintenance requirements for flat roof insurance?
Yes, many insurers expect regular maintenance to reduce risks. This can include clearing debris, checking for leaks, and ensuring proper drainage. Failure to maintain the roof may impact your ability to claim for damage.
Can I get flat roof insurance for older buildings?
Yes, but older buildings with flat roofs may require additional assessments. Some insurers may also request that the roof be inspected or updated before offering coverage. A broker can help you navigate these requirements and find suitable options.
What is flat roof insurance, and do I need it?
Flat roof insurance is a type of property insurance that includes coverage for buildings with flat or partially flat roofs. These roofs can be more prone to weather-related damage, so insurers may apply specific conditions or exclusions. If your property has a flat roof, it’s essential to ensure your policy adequately covers potential risks.
Why is flat roof insurance more expensive?
Flat roofs are often considered higher risk by insurers because they are more vulnerable to water pooling, leaks, and weather damage. This increased risk can result in higher premiums or stricter policy terms. However, working with a broker can help you find the most competitive and comprehensive options available.
Holiday Home
What does holiday home insurance cover in Ireland?
Holiday home insurance typically covers property damage, contents protection, accidental damage, theft, and potential liability. It also provides coverage for periods when the property is unoccupied, which is unique to holiday home policies.
How is holiday home insurance different from standard home insurance?
Holiday home insurance is specifically designed for properties that are not permanently occupied. It includes additional protections for extended periods of vacancy, potential weather-related damages, and specific risks associated with intermittent use of the property.
Do I need special insurance if I rent out my holiday home?
Yes, if you rent out your holiday home, you'll need a specialized policy that covers both property ownership and potential risks associated with short-term letting. This typically includes additional liability protection and coverage for potential tenant-related damages.
How can I reduce the cost of my holiday home insurance in Ireland?
You can potentially reduce premiums by installing security systems, using approved locks, having regular property inspections, maintaining the property well, and choosing a higher excess. Some insurers offer discounts for properties with added safety features.
What additional risks should I be aware of with a holiday home?
Holiday homes face unique risks such as extended periods of vacancy, potential weather damage (especially in coastal or rural areas), higher risk of break-ins, and potential damage from unexpected events during unoccupied periods. Comprehensive insurance helps mitigate these specific risks.
Home Business
What does home business insurance typically cover?
Home business insurance provides protection for business equipment, liability coverage, and potential income loss. It typically covers business-specific risks such as equipment damage and public liability, but professional indemnity and business interruption may not be included, and you will need to consult your broker for further risk information.
How do insurers determine premiums for home business insurance?
Premiums are calculated based on factors such as the type of business, annual turnover, number of employees, business equipment value, potential liability risks, and the specific nature of your business activities. The more information you provide, the more accurately the insurance can be tailored.
Do I need separate insurance if I run a business from home?
Yes, standard home insurance often does not cover business-related risks. Home business insurance ensures that your business equipment, liability, and specific business risks are properly protected, preventing potential financial losses that could occur from business-related incidents.
What types of home businesses can be covered?
Home business insurance can cover a wide range of business types, including freelancers, consultants, home-based retailers, online businesses, remote professionals, and small service-based businesses. The coverage can be tailored to the specific needs of different business models and industries.
What additional protections should I consider for my home business?
Consider additional coverage for professional indemnity, cyber liability, business equipment breakdown, public liability, and potential income protection. The specific protections will depend on your business type, potential risks, and the nature of your work from home.
Landlord
What does landlord insurance typically cover in Ireland?
Landlord insurance generally covers property damage, loss of rental income, legal expenses, and liability protection. It can protect your property against risks like fire, storm damage, tenant-related issues, and potential legal claims arising from property ownership.
Is landlord insurance mandatory in Ireland?
While not legally mandatory, landlord insurance is highly recommended. Many mortgage lenders require it, and it provides crucial financial protection against potential risks and unexpected expenses associated with renting out a property.
How does landlord insurance differ from standard home insurance?
Landlord insurance is specifically designed for rental properties and offers broader coverage than standard home insurance. It includes protection for tenant-related risks, potential loss of rental income, and liability coverage that standard home insurance typically does not provide.
Can I get landlord insurance for different types of rental properties?
Yes, landlord insurance can be tailored for various property types, including residential houses, apartments, multi-unit buildings, and properties let to different tenant groups such as students, professionals, or families.
How are insurance premiums calculated for landlord insurance?
Premiums are calculated based on several factors, including the property's location, age, value, type of construction, rental history, tenant profile, and the level of coverage selected. Additional risk factors and the property's condition can also influence the premium.
Listed Buildings
What is listed buildings insurance?
Listed buildings insurance provides specialized cover for properties recognized for their historical or architectural significance. These homes often require tailored policies to account for their unique materials, construction methods, and restoration requirements.
Why is listed buildings insurance more expensive?
Insuring a listed building is often costlier due to the higher expense of repairs or renovations. Restorations typically require approved materials and techniques to preserve the building's character, which can be more expensive than modern alternatives.
What does listed buildings insurance cover?
Coverage includes protection against damage from fire, floods, storms, theft, and vandalism. Policies may also extend to include the cost of using approved specialists for repairs or restoring the building to its original condition following damage.
Do I need listed buildings insurance if I own a listed property in Ireland?
Yes, it’s strongly recommended. Standard home insurance policies often don’t provide sufficient coverage for listed properties, especially regarding restoration requirements. A tailored policy ensures you’re fully protected.
Can I make changes to a listed property and still be insured?
Any changes or renovations to a listed building typically require approval from your local planning authority. Failing to comply with these rules could affect your insurance. Always inform your insurer and consult with a broker to ensure your policy remains valid during and after alterations.
Self Build Insurance
Do you need insurance for a self build?
Yes, obtaining insurance coverage for a self build is highly recommended as it protects your investment, covers potential risks during the construction process, and provides liability coverage in case of accidents or damage.
What does a self-build policy cover?
A self-build policy covers theft, vandalism, and damage to the property during construction.
Do builders have their own insurance?
No, not all builders have their own insurance. Always insist on seeing proof of your builders’ insurance policy coverage. It is recommended that builders, contractors, and tradesmen have specialized insurance for their business, but a surprising number of them do not. By having insurance coverage, they can safely work on others’ homes and properties while also having protection against the costs of repairs in the event of unintentional damage to your property.
What is building under the course of construction insurance?
“Course of construction” insurance is just another word for “self-build” insurance, as referred to by insurance companies and brokers. Course of construction insurance provides protection for newly constructed properties or for existing properties undergoing renovation or extension.
Do you need site insurance for self-build construction?
Site insurance for self-build construction is not always legally required. However, it can provide valuable protection against potential risks and liability during the construction process. As a self-builder, you are responsible for ensuring health and safety on your building site, and it is important to have procedures in place to prove compliance to the relevant safety authorities.
What specific coverage do I need for my self-build project?
You need course of construction insurance (also known as self-build insurance) while the property is being built. That covers you for Fire, Storm, Flood, Malicious Damage, and Theft from Site (From a locked building). The additional cover available is public and employers liability.
How much will the insurance cost for the entire duration of the project?
Self-build insurance is likely to be in the range of €1100 to €1300 for a 12 month policy cover which can be extended to 18 months under the same policy. This is based on buildings sums insured up to €370,000; higher construction costs may cost more.
Does the policy cover any damage caused by builders working on my project?
No. Any damage caused by your builder, their employees, or by contractors/sub-contractors is claimable from the contractor/sub-contractor’s insurance policy. This is why it’s important to check the tradespeople working on your site/property have appropriate insurance cover in place.
What is the claims process, and how long does it typically take to receive a payout?
This really depends on the type of claim. Typically a material damage claim for the property will see your claim assessed within 72 hours by the insurer, and depending on the type of damage, the claim could be adjusted by the insurer and compensation figures could be agreed 2 to 3 weeks later.
Are there any exclusions or limitations in the policy that I should be aware of?
Ensure that anyone working on site has a safe pass course completed, even if it is a voluntary worker or member of your family. It is a condition of any building under a self-build insurance policy in Ireland.
Standard Home
Timber Frame Home
Are timber frame homes more expensive to insure in Ireland?
Insurance premiums for timber frame homes can be slightly higher due to perceived increased risks. However, modern timber frame construction techniques and improved building standards have made these homes more insurable, with premiums dependent on specific construction quality and fire protection measures.
What specific risks do timber frame homes face?
Timber frame homes can be more susceptible to moisture damage, potential fire risks, and structural issues related to timber's natural properties. Insurance typically covers these specific risks, including protection against rot, moisture penetration, and structural integrity concerns.
How can I reduce insurance costs for my timber frame home?
You can potentially lower insurance premiums by installing robust fire protection systems, using treated timber, ensuring excellent moisture barriers, maintaining the property meticulously, and demonstrating high-quality construction standards and regular maintenance.
Do I need specialized insurance for a modern timber frame home?
While not always requiring completely specialized insurance, timber frame homes benefit from insurers with specific expertise in this construction type. Look for policies that understand modern timber frame construction techniques and can provide comprehensive coverage tailored to these unique properties.
Why is timber frame home insurance different from standard home insurance?
Timber frame homes have unique construction characteristics that can affect insurance risk. Insurers consider factors like fire resistance, moisture vulnerability, and potential structural challenges when assessing coverage and premiums for timber frame properties.
Unoccupied Home
What is unoccupied home insurance?
Unoccupied home insurance provides coverage for properties that are left vacant for an extended period, typically more than 30-60 days. Standard home insurance policies often exclude cover for unoccupied homes due to increased risks, such as theft, vandalism, or unnoticed damage.
Why do I need unoccupied home insurance?
Leaving a home unoccupied increases the risk of issues like break-ins, water damage, or structural problems that might go unnoticed. Unoccupied home insurance ensures your property is protected during these periods, whether it’s due to renovations, long holidays, or awaiting sale.
What does unoccupied home insurance cover?
Coverage typically includes protection against theft, vandalism, fire, storms, and water damage. However, some policies may have limitations, so it’s essential to review the terms carefully or work with a broker to find the right policy for your needs.
Are there any requirements for unoccupied home insurance?
Yes, insurers may require certain precautions, such as ensuring the property is regularly inspected, securing windows and doors, draining water systems during winter, or maintaining heating at a minimum temperature to prevent freezing.
Can I get unoccupied home insurance for a long-term vacancy?
Yes, many insurers offer policies tailored to long-term unoccupied properties. Coverage can typically be arranged for periods of 3, 6, or 12 months, and policies can often be renewed if needed. A broker can help find a policy that matches your timeline.
